Tesla announced yet another record quarter, with Q4 earnings seeing all-time highs for revenue and also vehicles produced and delivered.
The company’s Installed Annual Vehicle Capacity remains at 1.9 million, spread across its factories in California, Shanghai, Berlin and Texas.
In Tesla’s Q4 shareholder slide deck, the company said, “we are planning to grow production as quickly as possible in alignment with the 50% combined annual growth rate [CAGR] target we began guiding to in early 2021.”
“In some years we may grow faster and some we may grow slower, depending on a number of factors. For 2023, we expect to remain ahead of the long-term 50% CAGR with around 1.8M cars for the year,” said Tesla.
On the Q4 live earnings call, Tesla CEO Elon Musk said there is the potential to make even more than 1.8 million, even throwing out the 2 million number. But this will ultimately be decided based on external factors.
“If it’s a smooth year without some big supply chain interruption or massive problem—we actually have a potential to do 2 million cars this year—we’re not committing to that—just saying that’s the potential,” said Musk.
Tesla yesterday announced an over $3.6 billion expansion coming to Giga Nevada, to scale up production of its electric Semi truck. For now, the company’s Cybertruck remains in the “tooling” stage and will start production this summer.